NEW YORK (TheStreet) -- CalAmp (CAMP) was falling 17% to $18.30 after-hours Tuesday after guiding below analysts' estimates for the second quarter, and despite beating analysts' estimates for earnings and revenue in the first quarter.
For the first quarter CalAmp reported earnings of 19 cents a share, while analysts surveyed by Thomson Reuters expected earnings of 18 cents a share. Revenue grew 9.8% from the year-ago quarter to $59 million, above analysts' estimates of $57.98 million.
Looking forward to the second quarter CalAmp expects earnings of 17 cents to 21 cents a share, below analysts' estimates of 22 cents a share. The company expects revenue of $57 million to $61 million for the second quarter, while analysts expect revenue of $62.5 million in revenue for the quarter.
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TheStreet Ratings team rates CALAMP CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CALAMP CORP (CAMP) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."